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  1. #1

    In the market for 1 solid B paper lender

    We fully understand that covid has changed the UW process on deals. However, our current B paper lenders have been giving us too many conservative offers on files that we know shouldn't be getting them.

    We don't like to shop here so we'd like to replace our current B paper lender with someone exclusive.

    We are looking for B paper lenders who can give terms on deals for up to 180 days or less on a 2nd position with a decent factor. we also understand that 3rds and so on are high risk and the length of term will reflect that.

    please PM us if you fit those parameters please.

    thank you.

  2. #2
    Sponsor Reputation points: 9172 DannyFoxCap's Avatar
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    Feb 2019
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    Miami, FL
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    Look no further, we go out to 200 days and are very competitive on clean 2nds and 3rds.
    Direct: 347-468-7528
    Cell: 305-753-3967
    Fax: 866-557-0455
    Email: Danny@foxbusinessfunding.com

  3. #3
    24 Cap Underwriting
    deals@24capital.com
    203-705-8764

  4. #4
    Veteran Reputation points: 132618 J.Celifarco's Avatar
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    Central Diligence Group they are my go to. Great company with good people.
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@thehorizonfinancialgroup.com

  5. #5
    Member Reputation points: 10
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    Aug 2020
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    Mississauga
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    5

    Hi, EFSA is funding Canadian MCA deals. Ranging from $10k to $100k.
    Attractive commission for ISOs.
    Pls contact us at support@efsacapital.com or 1-877 647 0091.

  6. #6
    Member Reputation points: 2978
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    Dec 2015
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    Los Angeles, CA
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    Quote Originally Posted by fundmonster View Post
    We fully understand that covid has changed the UW process on deals. However, our current B paper lenders have been giving us too many conservative offers on files that we know shouldn't be getting them.

    We don't like to shop here so we'd like to replace our current B paper lender with someone exclusive.

    We are looking for B paper lenders who can give terms on deals for up to 180 days or less on a 2nd position with a decent factor. we also understand that 3rds and so on are high risk and the length of term will reflect that.

    please PM us if you fit those parameters please.

    thank you.
    Fox is a good spot to go, very competitive, and if they like the deal they will work hard to get it done with a little more flexibility.

  7. #7
    Member Reputation points: 270
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    Apr 2016
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    Ft Lauderdale
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    28

    Flash meets your ask requirements. B, C is what we do .
    Shoot me an email and I will send you guidelines and rates.
    Jake Strelzik
    Vice President / ISO Relations

    4000 Hollywood Blvd
    Hollywood , FL 33021
    954-641-8756 (office) /305-785-2548 (cell)
    888 472 2933 fax
    jstrelzik@flashadvance.com
    www.flashadvance.com

  8. #8
    Senior Member Reputation points: 5327
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    Dec 2018
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    48 Wall St. New York, NY 10005
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    This is in our wheelhouse. We are a B-C paper funder. Sending you a pm.
    Jeff Pecori
    Business Development & ISO Relations

    VitalCap Fund | 48 Wall St. | New York, NY 10005
    P. 850.630.7509 Ext.101 | F. 646.219.7949
    jeff@vitalcapfund.com

  9. #9
    Laroma Corp Funding has you covered. We are aggressive in the B & C markets.

    Shoot me an email. Would love to get you signed up.

    mseamands@laromacorpfunding.com

  10. #10
    Libertas s the best in the biz

  11. #11
    If you are reading this and haven't sent us a PM please do.

    we would like to select 1 maybe 2 b paper lenders to send files to as we do not believe in shopping our files to multiple sources.

    we believe if we can find the right source to do business with no backdooring issues that would be great.

    thank you.

  12. #12
    I am an UW for a B-C lender in FL. Feel free to contact me directly as we are looking to sign up new ISOs - paying 12-pts standard for every deal and limited stip lists. William@bcproviders.com

  13. #13
    Senior Member Reputation points: 856
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    Feb 2014
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    Florida
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    Quote Originally Posted by VitalCapJeff View Post
    This is in our wheelhouse. We are a B-C paper funder. Sending you a pm.
    I concur!
    Shannon Harris
    Funding Specialist
    888-705-8818 phone
    239-790-2664 fax
    Shannon@StellarBusinessFunding.com
    www.stellarbusinessfunding.com

  14. #14
    Senior Member Reputation points: 856
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    Quote Originally Posted by ghosthand View Post
    Libertas s the best in the biz
    If you like your larger clients being poached, and then being terminated as an ISO... go for it. This happened to me in early 2019 and I heard it happened to one other ISO too. As a payback for this noble business practice, that merchant ended up defaulting on Libertas, 3 months later.. over $1m.. Karma showed up in a big way. Honestly I don't like to see any business damaged in this way and of course this default would have most likely occurred anyway. However, it was very wrong of Randy, the majority owner of Libertas to do this me. I don't normally call out funders online, however I realize that keeping this info to myself is a bit selfish to my fellow mca'ers. It was pretty surreal having this happen to me, but I knew if I sat back and kept quiet, this company would be punished. Did they learn from this? I highly doubt it. Will they do it again? Yes, in a minute. While I'm at, I would stay far far away from Simply Funding. I'll save that for another time.. but wow, just wow. Been in this space for 15 years and I guess it makes sense that I have some crazy exeriences to share... There are so many honest and professional funders in this space.. but these two are not.
    Shannon Harris
    Funding Specialist
    888-705-8818 phone
    239-790-2664 fax
    Shannon@StellarBusinessFunding.com
    www.stellarbusinessfunding.com

  15. #15
    Noob Reputation points: 10
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    Mar 2020
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    Florida, USA
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    Quote Originally Posted by SBF View Post
    ... While I'm at, I would stay far far away from Simply Funding. I'll save that for another time.. but wow, just wow. Been in this space for 15 years and I guess it makes sense that I have some crazy experiences to share... There are so many honest and professional funders in this space.. but these two are not.
    @ SBF... I am new to the arena and usually only read on here for possible programs that fit a few oddball files. But when you mentioned 'Simply', I got a quick rush of heat up my neck.

    I recently branded out on my own right about the time COVID became a thing.... since it shut down a lot of funders active processing etc... it also affected being able to sign on as a new ISO. Therefore, I continue to mentor under a veteran broker learning the ropes. About a two months ago, we had a merchant reach out to us for renewal on a file. [we told her she could renew, send us updated banks... yada yada...FYI we have had her file for at least 2 years and 3 renewals, a repeat merchant]. In any case, the next day when we followed up to see if she was sending over the docs, she said she already signed contract and got her money... Our conversation right after that "... just curious did you go through another broker to submit your file after we spoke? merchant: "They called me and sent the contract, I am not sure how they did it. I just know they said they don't work with you anymore 'cause my batch paid you off ...???? " I was blown away , I mean they used the Big Red front door and just cut us out... It was a little discouraging to see as a new broker. I've only been doing this for two years, but that was crazy.

    It probably doesn't help putting it out there as I am not sure if I felt better or worse when I saw it happened to someone else too. Anyway moving on... I am however, trying to find a good LOC funder that will do an initial soft pull and only hard pull after funding... or a possibly a fit for a merchant looking for a 2-5 year term.... if anyone has any suggestions, I mean since I'm here and all...
    Last edited by Business Funding Fairy; 09-15-2020 at 04:00 PM. Reason: typos

  16. #16
    Senior Member Reputation points: 112072
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    @BFF, LOC for 2-5 year term and the term LOC ...
    A "term" product and "LOC" product are generally not the same time of product.
    Do you mean amortization, because that's normally a term thing, and not a true revolving LOC. (Bluevine has one, it's 6-12 months on each draw, P&I and amortized.)
    Do you mean interest-only? In which case, it normally gets renewed every year.

    Unless you have a proper team of full-time processors and relationship with hundreds of banks, doing a one-off LOC (a) won't get you paid very much and (b) you'll never get the client enough money.

    Have the client send a credit report, that will help things. However, banks do hard pulls every time.

    Email me, it's worth the discussion
    Micah Markowitz | mmarkowitz@abfunders.com | 855-33-GO-ABF (direct)

  17. #17
    Noob Reputation points: 10
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    Florida, USA
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    @abfunders, that was my error in wording. It's actually 2 different files I am trying to fit somewhere. I have one merchant asking for a LOC and another looking for a 2-5 yr term. I honestly don't even know where they fall yet... I was jumping the gun while waiting for financial data. Also, thank you for the info, it confirmed mostly what I have been finding, so at least I know I wasn't too far off in my thought process. They might not ever become viable, but thought I would ask since I was on the forum.

    Thanks for responding, once I get more info I'll definitely reach out.

  18. #18
    Senior Member Reputation points: 112072
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    @BFF happy to be of service.

    I know the groups who have the full-time processing departments that can do this, though.
    Also, for the larger term loans, depending on the type of collateral, they are very doable in our space, as opposed to the massive bank underwriting.
    Be in touch
    Micah Markowitz | mmarkowitz@abfunders.com | 855-33-GO-ABF (direct)

  19. #19
    Hi we are a direct lender.
    Xcuvus incorporated
    Email: ceoxcuvus@xcuvusinc.com

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